JD Lasica recounted the Your Brand, Their World event at Razorfish on August 18 in San Francisco. The goal was to draw social media thought leaders and experts together to “discuss the ways in which social media is changing the relationship between customers and brands, and what it means to marketers, merchandisers, product developers, customer service organizations, R&D and senior management.”

Participants included Garrick Schmitt, GVP Experience Planning for Razorfish and an expert panel consisting of Megan O’Connor, Levi’s; Michael Brito, Intel; Marisa Gallagher, Razorfish; Sam Faillace, Shutterfly, and Jon Swartz, USA Today (moderator.) In addition, an engaging audience of social media and marketing specialists was present to share their views.

Here are some of ideas and highlights coming out of the panel and audience interaction.

• An interesting tweeting strategy for business: the 80-20 rule. Michael Brito tweets 80 percent personal and 20 percent business, which is a great reference for both beginner and experienced tweeple. If you are not sure about what mix your messages should have, this is a good starting point.
• Social media should not be the ultimate marketing tool but must be an important element in the marketing mix. Not all companies need a Faccebook or Twitter account. Ultimately, the key is to know what you want to achieve with social media and select the appropriate tools to meet your goals.
• While return on investment (ROI) is not an easy thing to quantify from social media marketing activities, Marisa Gallagher mentioned one of the best metrics: sales. This is right on because regardless of your goals for a specific campaign (brand awareness, survey participation, opinion gathering, etc.) what really matters to all company is sales.
• On Twitter followers, following and the value of realistic interaction, a great bottom line message seems to emerge. It’s this: “You can effectively interact with maybe a small finite number of people, but do not discount the benefit of having many more followers/friends. They may be lurkers and never interact with you, but they have their own networks, can like/don’t like what you say/offer, and will share their opinions about you with the world.”
• Someone from the audience offered a clear, simple and easy to understand roundup of inbound vs. outbound marketing. “Outbound is the traditional form of interruption advertising (commercials on TV, a billboard interrupting your thought process), while inbound marketing is about people opting in or getting recommendations from friends.”
• Here’s a little “Ah-ha!” moment on why a company decided to deploy (or not) social media: “The auto companies don’t have as much fear jumping into social media as some of the other incumbents because it’s do or die for them,” as commented by Gallagher. Sure, we all know the phrase: “Live everyday like it’s your last.” That’s how you make a difference.

There are a bunch more great takeaways from that meeting. Read more of JD Lasica’s post “Social media, brands and the way forward” over at socialmedia.biz.

Post from: Marketing Autopsy Blog
© 2009 Marketing Autopsy Blog.

Brands, Social Media, Authentic Relationships and Ultimate Success

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Could it be that communication itself is a hindrance to corporations in adopting social media and blogs? Sounds counterintuitive but definitely possible. Consider the following.

What are some characteristics of getting involved in social media or maintaining a corporate blog? Is it being honest with your message? Is it being involved in the conversation regularly? Is it allowing comments, feedback and critiques to come back to you whether or not you want them? Is it having to take risks that you may lose trade secrets, private information, etc.? or is it all of the above?

Yes it’s communication itself. It’s the fear of getting or receiving something back unexpectedly – good is OK but what if it’s bad? It’s the fear of the unknown that’s outside of the normal outbound marketing, which marketers have control over. It’s the fear of the unknown and the what-ifs. It’s the fear of inbound marketing.

Admittedly, getting involved in corporate social media and blogs does require attention to the details mentioned above. These are in addition to the POST Method that I blogged about last November – People, Objectives, Strategy and Technology. But the reality is, if you have to take time thinking about each and every message or structuring and molding every communication piece before relating to your customers, then you may not understand your company, company culture, and value propositions as well as you should. Of course there are important and proper communication channels for corporate announcements, press releases and the like, but day-to-day relationship with your customers and prospects should be a tactical strategy in the same vein as public relations (PR). It should be constant.

So what ’s the solution? Maybe start with the following:

• Understand that social media and blogs can be valuable corporate tools.
• Create clear and flexible policies that foster more intimate communication with customers and prospects while minimizing risks to the company.
• Empower the right individual(s) to carry out social media and blogs, working closely with every other departments within the organization.
• Constantly monitor results (quantitatively and qualitatively) and be nimble to change direction as needed.

So what’s your experience? What have you found working successfully at your organization? Share with us in the comments.

Post from: Marketing Autopsy Blog
© 2009 Marketing Autopsy Blog.

Reason Companies Fear Social Media and Blogs: Maybe It’s Communication Itself

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So HubSpot gave us another very easy to understand and easy to explain term: Inbound Marketing. It wraps everything about Web 2.0 into a neat little package. According to the article “Inbound Marketing & the Next Phase of Marketing on the Web“, the current recession is pushing the next wave of marketing on the Internet. And it’s a good thing. Evolution is good.

Marketers are seeing the value of Inbound Marketing. While we can’t totally do away with traditional marketing, or Outbound Marketing, marketers can certainly step up their Inbound Marketing with little to no additional costs. Considering these 3 key components that make a successful Inbound Marketing, one can see why it’s so powerful.

1. Content – Content is the substance of any Inbound Marketing campaign. It is the information or tool that attracts potential customers to your site or your business. Content is king.
2. Search Engine Optimization – SEO makes it easier for potential customers to find your content. It is the practice of building your site and inbound links to your site to maximize your ranking in search engines, where most of your customers begin their buying process.
3. Social Media – Social media amplifies the impact of your content. When your content is distributed across and discussed on networks of personal relationships, it becomes more authentic and nuanced, and is more likely to draw qualified customers to your site.

The beauty of it is anyone can successfully put them to use at very low costs. You don’t have a budget for this? Or your budget has just been scaled down? No worry, you can still run an effective marketing campaign. Here’s a graphic comparing Outbound and Inbound Marketing, courtesy of HubSpot. If you work up a marketing budget for each side of the table, it’s not hard to see the budget needed to do the left side is going to overwhelm the one on the right.

Print ads, TV ads, cold calling, trade shows, email blasts will continue to cost a bundle to do. On the other hand, blogs, eboks, viral videos, SEO, webinars and RSS are all very affordable to start or even expand in activities. To be fair, Inbound Marketing does require specialized knowledge and skills, and this is a good thing. It forces marketers to move with the time. It will weed out strong marketers from the weak ones. It’s the natural law of survival in the business jungle.

Pounding your message out to the customers? Not too effective anymore and too costly. Attracting customers coming to find you? Now everybody wins.

So consider these. Inbound Marketing costs much less than traditional marketing. It has better targeting with self-qualifying customers. And it is an investment with  word-of-mouth and viral effectiveness.

If it’s not already in your marketing game plan, then you may as well make Inbound Marketing your new year’s business resolution. But don’t wait. Start today. Remember, you don’t need a budget to do this.

Post from: Marketing Autopsy Blog
© 2009 Marketing Autopsy Blog.

Who Doesn’t Want Inbound Marketing?

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